Russia eyes $10B bilateral trade with India
By agencies   |   Tuesday, 07 February 2006, 20:30 IST
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NEW DELHI: With a view to infuse new economic energy into Indo-Russian relations, Moscow sought for deepening cooperation with New Delhi in energy, education, IT and other hi-tech areas to achieve $10 billion bilateral trade by 2010 and proposed to set up a bank here. While participating at a meeting organized by FICCI, the Russian Trade Minister German Graf said, “We are seeing a growing economy and can increase trade turnover to $10 billion by 2010.” He also indicated that Russian bank may open branches. While ICICI and State Bank have branches in Moscow, no Russia banks have branches in India. Speaking on the occasion, Commerce Secretary S N Menon said there was need to break from tradition export items of tea and tobacco and diversify the trade basket. He pointed that there was immense scope for enhancing cooperation in rough diamonds, education, IT and energy.

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